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  3. Journal of Economic Literature
  4. March 2009
  5. The Age of Milton Friedman

Journal of Economic Literature

ISSN 0022-0515 (Print) | ISSN 2328-8175 (Online)

The Age of Milton Friedman

  • Andrei Shleifer
Journal of Economic Literature
vol. 47, no. 1, March 2009
(pp. 123–35)
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Abstract

Between 1980 and 2005, as the world embraced free market policies, living standards rose sharply, while life expectancy, educational attainment, and democracy improved and absolute poverty declined. Is this a coincidence? A collection of essays edited by Balcerowicz and Fischer argues that indeed reliance on free market forces is key to economic growth. A book by Stiglitz and others disagrees. I review and compare the two arguments.

Citation

Shleifer, Andrei. 2009. "The Age of Milton Friedman." Journal of Economic Literature, 47 (1): 123–35. DOI: 10.1257/jel.47.1.123

JEL Classification

  • O10 Economic Development: General
  • O40 Economic Growth and Aggregate Productivity: General
  • P16 Capitalist Systems: Political Economy